Dear Subscribers:

The market sells off today on a dissapointing Non Farm Payroll report, making it the second down day in a row.

For the moment, I see the current pullback as the market working off overbought conditions and catching up to its 20-50 day moving averages.

The Volume-Breadth trend is positive which signals that uptrend is healthy and the "strong hands" are buyers. 

We still have no distribution days in the major US indices which is still positive.

The current pullback if we remain in an uptrend will be a good opportunity to add some new positions at better prices.

As for the Non Farm Employment report, it was pretty bad and only confirms that the US economy is slowing down and is probably entering a recession.

We can see how the job creation has been slowing down.

Best regards,

                        Victor Riesco